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Taxpayer Warning: IRS Obtaining Records from Third Parties, Will Trigger an Audit on You If Numbers Don’t Match

By Jack Davis

 

Workers in the gig economy might gag on the new forms they will be receiving at the end of 2022.

The Biden-era American Rescue Act, rammed home in 2021 by a Democratic-majority  Congress, makes a major change in how Americas who are paid through third-party companies are taxed. Companies include Cash App, Venmo, and PayPal, according to the New York Post.

The Internal Revenue Service has a summary of the changes and their implications.

 

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